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    Thread: What is the remedy for greed in the forex market?

    1. #1
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      Default What is the remedy for greed in the forex market?

      Greed has led many trading accounts in the forex market to their untimely grave. Our trading accounts needs to survive before we can achieve success. What is the remedy for greed in the forex market?
      POSSIBILITIES ARE INFINITE IN THE FOREX MARKET, YOU CAN ACCOMPLISH ANYTHING !


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      Greed is the nature of humans and it is very hard to control on it easily and i did every thing to control on my greed but i failed until i got a very big loss then i realized that the greed is my enemy and i have to leave it with any way so the first thing that i did it is :

      1- Forgetting your previous loses to refresh my mind and to trade with low risk and money management without any factors lead me to the greed again because if your previous loses in your mind this will lead you to the greed and to the trading with very high risk to compensate it asap .

      2- Putting good plan for making determined daily percent as making 1 % daily because making 1% daily will lead you for making 20% monthly with low risk and money management without any greed or high risk and this will lead you to the success on the controlling on your greed and your trading with plan will be the remedy for greed .

      3- Forgetting your dreams for making very big profits in short time because these dreams always lead you to the greed but you can makes your dream is to make very big profits but in long time as one year or two years because decreasing your dream target will help you to control on your greed .

      So i see that the above three factors can be the remedy for greed and we have to follow its if we want to control on our greed without high risk or trading with big lots .


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      What is the remedy for greed in the forex market?
      There are some harmful things for a Forex trader. Greed is the most dangerous thing among them. A greedy trader can't never prosper with Forex trading. There are some ways to control greed in Forex trading. Using stop loss and take profit is the best among them. Greed is the most harmful enemy for a Forex trader. Using take profit will help you to ensure moderate profit and using stop loss will help you to protect your account from blown out.

      Lot size is the key to avoid greed in Forex trading. You should use small lot size. I might say calculated lot size. You should not take high risk in your every trades. If you can trade with small lot size, with SL and TP point then you can easily control your greed in Forex trading.
      Who Is Your Creator And What Is His Intention? Find It Before It Becomes Too Late. If You Search You Will Realize That Allah Is One. May Allah Bless You.


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      Greed does not have remedy for someone that has made up his mind to be rich through any means necessary, the majority of the time, traders lose one account after another but unfortunately that experience does not change their thinking towards the market, it is just like betting, where people will lose money and keep losing because they feel someday their efforts will yield profits and results, so, someone can be a loser for ten straight years or more in this business and think it is normal especially when he has never made any withdrawal, the remedy for this chronic illness called greed is a change of approach and orientation. Once that is done, success becomes easy.


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      The remedy for greed in forex trading is contentment and discipline. As a trader, you must learn to be discipline when opening your trade. Your discipline should include the ability to stick to small lot sizes and to also abide by the targets that you have set. You are not to increase your target when you seen that market price is getting close to take profit and you believe that it could still go further. I do know that a lot of people talk about locking in profits and letting them run but sometimes that could mean losing a lot of what you had initially gained.


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      The remedy that I can say would solve the problem of greed is discipline and self control, this is a problem which has bewildered so many people because they are basically looking for an easy way out which unfortunately does not even exist, greed is a result of believes that you are worth more than the money in your account as a forex trader which now spurs you into take high risk in order to quickly enlarge that amount to suit your status. We can stop greed the moment we made the decision that we have experienced enough, this conscious effort is followed by actions because staying without doing anything is just as good as not making that decision.


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      The greatest remedy and solution for greed for everyone that is suffering this problem is satisfaction and patience, if we think about the reason people lose their money, at the root of it is the lack of satisfaction with the profit they have made, others could be just that they are proud, I have lost some account to margin call because I believe that what I have earned from that particular trade is no sufficient, that was how price reversed and consequences was that I got a negative balance, that is what we will always be faced with when we are not getting the right satisfaction from the little profit we make, because we don't have patience, we usually want our account to have a one hundred percent return on investment.


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      Very nice question dear fanatic and I think greed very bad, harmful and best enemy for all trader in Forex business because greed can destroy our trading plan and discipline can bring big loss and margin call both. I always believe if we can avoid greed and properly follow all Forex rules on trading then we may success and we can make our dream came true.
      I always believe if we can get proper knowledge about Forex, achieve good experience, skills, use good leverage, follow good money management, follow risk management, control emotions, properly use all useful trading tools, patience, discipline and properly follow all Forex rules on trading then we may over come greed in Forex other wise not.
      So we should try to best success near. Thank you.


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      The remedy for greed is to calm yourself down, sometimes when we are going overboard, we lose our sense of reasoning and logic because our main focus is to make some high amount from the market, there are rules that are naturally in place for everyone to follow before we can make money, but alas majority don't see the need for it, the rule of money management says we should never invest more than we can lose and also to risk a small portion of our account so that whatever happens we can quickly recover from the shock, but that is not what we do, forex takes some great discipline before consistency can be achieved, there is never a time trading and earning will be easier.


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      Greed is a very quick and a very popular account killer in the Forex currency trading business, It has dealt with all of us at a certain time in our Forex trading careers and it brings us into very huge losses at every step of the way. In order for a Forex trader to stop the application of Greed, They need to have a control of themselves, Their emotions and their strategy. This is always achieved through practice, The more a Forex trader practices, The more they become better traders and being better also comes with a massive ability of a Forex exchange trader to actually have a full control of their emotions and then trade without emotions hindering their decisions in any way.


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